Long story short: NBC Sports and Dick Ebersol will take control of Versus (as well as Comcast's Golf Channel). They'll change the name to a more recognizable NBC brand, use more NBC talent and most importantly, they'll pump money into the network that will allow it to challenge ESPN for television rights deals.

Also, Reuters says Keith has two years left on his contract ("The New York Times said he signed a $30 million four-year contract extension in 2008" )and TMZ says he'll continue to be paid his salary (around $7 million a year.)

The only important thing here is that the higher-ups
at NBC(the parent company) got rid of Keith and they probably won't have to answer to anyone for it.
When a network gets rid of one of it's most popular
programs, it must really be under a lot of pressure from people that we may not even be aware of .